S&P 500 Notches Three-Day Win Streak as Nasdaq Jumps 1% on Meta and Tesla Rally

U.S. stocks rallied broadly on Wednesday, October 21, with the Nasdaq Composite climbing 1.05% to close at 26,702.86, the S&P 500 rising 0.58% to 7,757.17, and the Dow Jones Industrial Average gaining 360.21 points, or 0.69%, to finish at 52,856.09. The session extended the S&P 500's winning run to three consecutive days, driven by outsized strength in Meta Platforms and Tesla.

Information Technology led all sectors, supported by renewed momentum across hardware, semiconductor, and server stocks. Industrials also traded higher, lifted by solid quarterly earnings from aerospace, defense, and manufacturing companies. Financials added steady gains, while Consumer Discretionary ended mixed, with strength in auto and retail names partially offset by weakness in select consumer stocks.

Among notable individual movers, Danaher shares bounced higher after the company beat analyst estimates on both revenue and profitability. Trane Technologies rose 2.17% to $471.42 and Nucor added 1.16% to $264.54, while T. Rowe Price gained 1.14% to $103.29. On the downside, American Tower fell 3.23% to $177.64, Lennar slid 1.21% to $77.70, and Texas Instruments also declined. Netflix shares dropped as investors focused on a decelerating revenue growth rate. Communication Services lagged the broader market after media and entertainment heavyweights pulled back following revised advertising forecasts. Energy stocks saw profit-taking as crude oil futures retreated slightly during the session.